There are as many as 24 million eCommerce sites online, with more popping up every single day. If you’re not up-to-date with the latest trends, however, you could fall behind. You might struggle to reach new customers as a result.
Here are six essential B2B eCommerce trends you need to follow for success. Following these trends can help you expand your reach online. Once you reach more customers, you can boost sales and improve your ROI.
Otherwise, your competitors could get the chance to take the lead instead.
eCommerce could generate as much as $4.5 trillion in sales per year. Maximize your sales and grow your B2B commerce with these simple tips today!
1. New Payment Options
The coronavirus pandemic sped up consumers’ adoption of real-time payment options by 41%. Real-time payments refer to digital wallet options, including:
- PayPal
- Cybersource
- Google Pay
- Apple Pay
These payment options allow consumers to make payments faster than ever before.
In North America, credit cards are still the number one form of payment. Digital payment systems are a close second. Digital payment options could begin to dominate on a global scale in the next few years, though.
Consider utilizing new payment methods when developing your new sales strategy.
2. Digital Marketing Efforts
If you’re struggling to reach customers online, consider developing a digital marketing strategy. More B2B businesses are using digital marketing to boost brand visibility.
Without brand visibility, your target audience might never realize you exist. You could struggle to differentiate yourself from competitors, too.
Instead, you can use a combination of digital marketing strategies, including content and social media marketing. Optimize your content with search engine optimization (SEO) to expand your reach. You can also use pay-per-click (PPC) advertising to reach more customers online.
Keep up with the latest digital marketing trends in addition to these eCommerce trends. For example, augmented reality (AR) and virtual reality (VR) are becoming more popular.
You can also add a chatbot to your website to improve the user experience and engage buyers.
3. Improving the Customer Experience
As you follow the latest B2B commerce trends, it’s important to keep your customers in mind. For example, it’s important to consider their online customer experience.
Find new ways to make life easier for your customers. Use online technology to your advantage, too.
First, make sure your website is easy to navigate and use. Make sure your pages load quickly as well. Consider adding search functions to your site to improve usability.
Finding new ways to improve the online customer experience can keep people engaged on your site. Otherwise, they’ll leave, costing you a potential sale.
4. B2B Mobile Commerce
People interact with brands twice as often on mobile devices. In fact, mobile conversion rates are 64% higher than desktop conversions, too.
As you develop your digital marketing strategy, don’t neglect to create a mobile version of your website. More companies are embracing B2B mobile commerce.
First, make sure to improve the user experience on the mobile version of your site. Make sure it’s easy for consumers to shop from your mobile site, too. Otherwise, they’ll leave.
You can also develop a mobile app to engage and attract more mobile customers.
5. Personalization
You might need to update your sales approach based on the target audience you’re trying to reach. In fact, 73% of millennials are now involved in B2B purchasing decisions. You’ll need to adapt marketing and sales strategies that mesh with the millennial mindset.
Otherwise, you might struggle to generate sales from younger buyers.
With that in mind, personalization is becoming increasingly important among B2B eCommerce trends. Personalizing your sales and marketing strategies will help you connect with your audience. You can create an experience consumers can’t find anywhere else.
Creating a unique experience for your B2B customers can help you stand out from your competitors.
You can develop a personalized shopping experience by taking advantage of customer data. Use artificial intelligence and machine learning as well. You can automate experiences to cater to each consumer’s distinct needs.
In fact, 73% of customers expect companies to understand their needs and expectations. Over 60% expect companies to adapt based on their shopping behaviors, too.
Using personalization along with these other eCommerce trends can help you boost sales.
In fact, 80% of consumers are more likely to make a purchase when brands offer personalized experiences. Personalization could deliver eight times the ROI on marketing spend, too. It might even lift sales by 10% or more.
Creating a personalized shopping experience can help you engage and attract more customers. You can offer an enhanced customer experience and retain customers, too.
6. Customer Loyalty Programs
As you start exploring trends in the eCommerce industry, consider developing a loyalty program to reward your customers.
Loyalty programs were once exclusive to the B2C space. Now, however, B2B buyers expect more from their vendors.
Developing a loyalty program can help you retain long-term customers. You could spend less on customer acquisition as a result. Then, your ROI will rise.
Developing a loyalty program can also help you build brand awareness. You could start acquiring new customers through your loyal customers.
Consider offering your loyal customers referral rewards or transaction-based discounts.
With transaction-based discounts, you can offer customers an immediate discount when they join the loyalty program. With referral rewards, you can give customers a bonus each time they refer you to a new customer. New customers can get discounts and rewards for their first purchases, too.
Otherwise, create rewards programs using tiered rewards. For example, you can reward customers each time they make a purchase. The more points they earn, the better a reward they’ll receive.
You could generate repeat sales through your loyal customers as a result.
Step Up Sales: 6 eCommerce Trends to Help Boost Your Business
Don’t let your B2B commerce strategy fall flat. Instead, keep track of the latest eCommerce trends to boost sales. Following these B2B eCommerce trends could give you the advantage you need.
You can boost sales, retain long-term customers, and set your business up for success.
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